Mr. Marshall Abbott reports

ARROW ANNOUNCES TOTAL VOTING RIGHTS (TVR) UPDATE

Arrow Exploration Corp. issued 3.6 million common shares in the month of June pursuant to the exercise of warrants issued at the company's offering in October, 2021. All of the new common shares issued during the month were issued under the company's existing block listing entitlement.

Following the issue of the new common shares, the issued share capital of the company comprises 234,274,893 common shares with one vote per share. This figure can be used by shareholders as the denominator for the calculations by which to determine if they are required to notify their interest in, or a change to their interest in, the company under the FCA's Disclosure and Transparency Rules. Additionally, and as at the end of June, 2023, the company still has 51,964,455 warrants outstanding to be exercised until October and November of this year.

About Arrow Exploration Corp.

Arrow Exploration (operating in Colombia through a branch of its 100-per-cent-owned subsidiary Carrao Energy SA) is a publicly traded company with a portfolio of premier Colombian oil assets that are underexploited and underexplored and offer high potential growth. The company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. By way of a private commercial contract with the recognized interest holder before Ecopetrol SA, Arrow Exploration is entitled to receive 50 per cent of the production from the Tapir block. The formal assignment to the company is subject to Ecopetrol's consent. Arrow Exploration's seasoned team is led by a hands-on executive team supported by an experienced board. Arrow Exploration is listed on the Alternative Investment Market of the London Stock Exchange and on the TSX Venture Exchange under the symbol AXL.

We seek Safe Harbor.